January 26th, 2017Student Accommodation News
Leaving home to go to university is a prospect tough enough to intimidate anybody, let alone young people between 17 and 21. It is an age where the choices that you make can affect the rest of your life. Location, career, friends and other factors are all influenced by the choices that you make after you leave school. It’s no surprise then that a significant number of young people regret the choices they make when the pressure is high from parents, teachers and peers.
This has been confirmed by a survey published last week by The Student Room which asked a variety of questions to 1,805 students currently studying at different universities all across the country. The most shocking statistic to emerge from the survey was that 20% of students currently studying regretted their choice and, if given a second chance, would pick differently.
Further to this, 18% admitted that they felt as though they would have done better if they had waited before attending university rather than applying straight after A-levels. 18% again admitted that they had failed to adequately research their degree choice and didn’t know enough about the course before enrolling.
One in eight students admitted that their choice of university was too far away from home and that this made them feel unhappy or anxious. One in eight also admitted that their choices were affected by influence or pressure from parents and teachers.
Universities do have the facilities for students to complain or register feedback about their course, location or programme of study, but 45% admitted that they didn’t actually know how to do this. It is thought that either through inadequate advertising or poor provision, universities weren’t making it clear enough about how students can complain.
It has interesting implications for landlords who own or invest in student property, as location is key for anybody researching their investment. It may point to the fact that universities with a large number of students either from overseas or from other parts of the UK with long travelling distances may suffer larger drop-out rates than others. The large universities can always expect a large number of these students whilst smaller, local universities and colleges may well expect to keep their alumni fairly local.
The survey comes off the back of news that a US private equity firm, Starwood Capital Group will be investing a massive £120 million into the booming UK student housing market in collaboration with a European firm, Round Hill Capital.
The firms will eventually have a stake in 1,595 beds in England and Scotland which can be added to their total of 6,855 in the US. They will be building a total of six new accommodation sites across England and they’re due for completion in time for the 2018/19 academic year.
The new projects are in The Haymarket in Edinburgh, Chestnut House in Cambridge, The Walls in Southampton, St James House in Glasgow and Union Square and Stepney Yard, both in Newcastle. The investment represents a significant vote of confidence from the firms and cements the industry’s status at the forefront of property investment in the UK. The popularity of student accommodation is already established, and is set to grow even more in the future.
Looking to invest in student property? Have a look at the investment options we currently have available!